Assuming you go to a , your first networking in banking experience will be on-campus, and so the question invariably pops up “Is it a strategy worth pursuing?”
Well, for sure – because just like the fat walking-challenged birthday boy, all you have to do is sit around on-campus and wait for everyone (banks, college, clubs) to come to you. It’s just so easy!
The will hold investment banking information sessions, canapé-n-drink fueled networking chats and even interview you on campus, however informally.
Your will lay on financial career fairs, banking career talks and other industry crutch-grabbing shindigs.
Meanwhile will put on mixers for students interested in becoming investment banking analysts, giving you even more contacts and knowledge.
But the catch is you’re not the only birthday boy at this party. In fact your entire year level will be joining you and you’re really not that special.
So the unique quality that makes investment banking networking on-campus so attractive – being how accessible it is – is also its downfall. In fact, it’s so easy to attend that even students with barely-there hard-ons for investment banking will come to these sessions. and almost no barriers to entry.
No wonder then that these investment banking networking events (with or without bankers) are more likely to resemble the killing fields depicted in a National Geographic Serengetti Special rather than a Professional Career Event.
There are to get a fistful of business cards, half-assed answers to lame questions and a couple cups of complimentary liquor.
The final potential death knell is that these events often take place so close to – sometimes even just days before – that they’re unlikely to help you establish any long lived relationships with bankers (unless you are a junior).
Our end conclusion is “, but don’t make this the last stop on your networking ways”.
They are the most gaff-filled event on Earth and yet we still think you should go, so let us explain ourselves.
There’s significant talk out there amongst banking bloggers that on-campus information sessions / mixers are really . And certainly, in some respect they can do more harm than good.
We are talking about events where the sheer number of students trying to stand out and impress bankers is enough to have you bolting for the exits after all – the x-rated is enough to make you reach for the freaking sick bag at times. And with the downright awful, maybe these events should be no gos.
But you get into investment banking. Think bank presentations, 5-1 student-banker conversations, and most of all speaking to fellow grads in the know. And since these are amongst the top 15 goals of networking in banking, on-campus events are worth a shot.
Plus if you take the initiative to make contacts with bankers via very brief intelligent questions and comments, and you (this is the key), you’ll have a rocking time.
(1) we took away pages of valuable scribbled notes and advice, (2) met dozens of high-quality people; both bankers, HR & fellow switched on students, (3) racked up multiple resume passes and (4) received many requests to call and interview outside normal recruiting.
And think about the . We racked up all this courtesy of barely a handful of afternoons and evenings spent on-campus (probably a collective 20 hours in total…that’s it!). The message I’m trying to scream is that on-campus networking is rewarding, painless and efficient. The freaking bankers are coming to you remember…and in droves!
Thankfully if your on-campus networking efforts end worse than my recent Ghanaian-goldmine speculative play there’s still a consolation prize to cushion the blow.
Oh, and perhaps a little lukewarm canapé too?
Check out the complete guide on invesment banking networking on-campus.
Richard is the head writer for Inside Investment Banking – a one-stop shop of advice for students just like you who want to know how to Break into Investment Banking without a 4.0 GPA from Harvard or nepotistic connections on Wall Street.
Created by a team of 5 young bankers, Inside Investment Banking contains all the real insider advice you need to write killer banking resumes, answer tough interview questions, network with bankers and much more.
You can read more Free Tutorials on Investment Banking Recruiting just like the one above by visiting Inside Investment Banking now.
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When ever you go through an investment manager, the commissions will be high (that is what pays his salary as well as corporate profits and broker assisted trades are always significantly higher). You always have to be careful of the advice received from a brokerage investment manager since some times they will create excess trades or direct you to investments with high commissions (eg, front load funds, annuities, etc.).
It is usually better to hire a financial advisor by the hour and do your own trading through a discount broker since his only objective will be to keep you happy so that he will get return business.
Edit: A pay by the hour financial planner (advisor) probably couldn't be designated as a trustee since he doesn't control the money but only gives advice. I'm no expert in law but can't you designate yourself as the trustee of the account since you have the power of attorney?
wow, thats a handful. If you Really want to persue your desires, then get rid of that job, find a way to create income and spend your time doing what you love- guidedenergy.org
You need a major in Economice and a stong minor in Finance.
I know several instances where people became investment bankers without taking finance courses./
That's fine, but it doesn't really matter. The things that matter are your academic performance and the strength of your internships. In order to get an internship, you have to know a lot about current events/the market for your interviews. Spend all your time researching firms to apply for at your career services. Do whatever mix will get you the best GPA…they won't care if you have 1 minor as opposed to 2 if you average a whole grade point less.
Investment Banking is a pretty worthless and unfulfilling industry (have had a handful of friends including myself quit our jobs to move to consulting/non-profit/education/other), but if you want to make a buttload of money, there is no better way.
THEY PRETTY MUCH GET YOU FOR ALL THEY CAN.i have friend that's a limo driver that explained to me how it works.sometimes they walk up and down the line of the club outside.they pick someone and tell them they will get you in for 600 bucks.that guy will keep 200.then they give the door man 100.it's about 200 fo the bottle,and 100 for the good table.
Donald Trump wants to run for president.
Unfortunately the clients that you brought to the company with you became the "property" of the new company and you can't take them with you when you leave. Sorry, you're in the wrong. Next time you have clients do not take them with you when you go to a new company, you can always provide service to them as an independent if they are okay with it. But you can never legally "take" clients with you when you leave a company.